Best Marijuana Stock To Buy Before Next Week? 2 For Your Watchlist Right Now

Are you looking for ways to invest in top marijuana stocks in August? Closing the second week of the month the best cannabis stocks have continued to decline in the market. It seems delivering strong earnings…

has not helped the cannabis sector trend higher. Instead after delivering strong financials top marijuana stocks like GrowGeneration Corp. (NASDAQ: GRWG) closed the day down 17.07% on August 12th.

In general, this price action has trended throughout the sector as most leading companies are reporting significant revenue growth but not seeing any positive momentum in the market. In the US top cannabis companies are performing at a high level but just like the previous earnings in March strong financials are not moving the cannabis sector higher. For quite some time the only event that has propelled top marijuana stocks higher is federal cannabis legalization and reform.

Since the presidential election of November 2021, the cannabis market has rallied on the notion the US would establish federal cannabis legalization in 2021. Now after 8 months of waiting for lawmakers to introduce new federal cannabis legislation top marijuana stocks have declined in value significantly. This has given new investors an opportunity to gain exposure to the cannabis industry at a lower price point.

Investing In The Best Performing Marijuana Stocks

For new investors, it’s important to do your research on a cannabis company before investing. Researching a company’s financial health and studying how the stock moves in the market can help you establish the most gains. In the next five years, the cannabis industry is expected to more than double in size. This growing market could continue to give leading cannabis companies the ability to expand and see revenue growth.

As new cannabis markets are introduced throughout the US the best-positioned companies could gain substantial market share.  In the US these companies continue to advance in the US cannabis market. With the cannabis sector trading near its lowest levels in 2021, this could be time to add some of the best marijuana stocks to your watchlist. Let’s look at 2 top cannabis stocks for your list in August.

Top Marijuana Stocks To Watch In August

  1. Columbia Care Inc. (OTC: CCHWF)
  2. Charlotte’s Web Holdings, Inc. (OTC: CWBHF)

Columbia Care Inc.

Columbia Care Inc. could be one of the best-positioned cannabis companies to grow rapidly after legalization is complete in the state of New York. Recently, the company made an acquisition of a 34-acre Long Island cultivation site has given the company one of the largest cannabis footprints to service the East Coast market. As it stands, Columbia Care operates in 18 US markets and operates 130 facilities including 99 dispensaries and 31 cultivation and manufacturing facilities. In July the company announced the launch of West Virginia market operations. Columbia Care expects to begin cultivation operations in the state at its Falling Waters facility.

On August 12th Columbia Care reported its second-quarter 2021 results delivering record quarterly revenue of $109.7 million up 232% year over year. As a result, the company saw record quarterly adjusted gross profits of $47.7 million an increase of 300% year over year.  The company also has a record adjusted EBITDA of $16.4 million up $21.1 million year over year. Recently, the company completed the acquisition of Green Leaf Medical establishing a market-leading position in the mid-Atlantic. With this, Columbia Care appointed Phillip Goldberg of Green Leaf Medical To its Board of Directors.

CCHWF stock closed on August 12th at $4.64 down 33.52% year to date. The stock has a 52-week price range of $3.14-$7.89 and has declined by 14.55% in the last 30 days. According to analysts at Tip Ranks CCHWF stock has a 12-month average price target of $10.81 per share. In essence, this forecast represents an increase of 132.97% from its last trading price. For this reason, CCHWF stock could be one…

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